Supreme Court to hear Sahara-SEBI case

SEBI had moved the top court, seeking contempt proceedings against the Sahara for allegedly obstructing the process of auctioning its Aamby Valley property in Pune, initiated on court's direction.

Published: 23rd November 2017 10:50 AM  |   Last Updated: 23rd November 2017 10:50 AM   |  A+A-

Sahara group supremo Subrato Rai Sahara appear for hearing at Supreme court in new Delhi on Thursday. (Shekhar Yadav | EPS)

By ANI

NEW DELHI: The Supreme Court will today hear the Sahara-SEBI case.

In October, the Securities and Exchange Board of India (SEBI) moved the top court, seeking contempt proceedings against the Sahara Group for allegedly obstructing the process of auctioning its Aamby Valley property in Pune, initiated on court's direction.

The SEBI mentioned the matter before a bench headed by Justice Ranjan Gogoi for urgent hearing, saying the auction process was to start from Tuesday but Sahara Group has been "obstructing" it by allegedly suspending day-to-day business activities in the project.

It claimed that suspension of business activities would create a law and order problem in the area and cause difficulties in carrying out the auction process.

Aamby Valley property auction process was to start from Tuesday but SEBI said Sahara Group has been "obstructing" it by allegedly suspending day-to-day business activities in the project.

Stay up to date on all the latest Nation news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp